24/7 Wall St. » KMX

AutoNation Posts Best-Ever Earnings (AN, CRMT, KMX, F, GM, TM, HMC, NSANY)

Paul Ausick — Wed, 25 Apr 2012 12:11:49 +0000

The largest car dealership in the US, AutoNation Inc. (NYSE: AN) reported earnings this morning for the first quarter. The company posted EPS of $0.56, an all-time high, on revenue of $3.7 billion. The consensus estimate called for EPS of $0.53 on revenue of $3.61 billion.

The company is taking advantage of the burst of new car sales in the first quarter. US sales have jumped to an annual rate of 14.5 million new cars. Total retail sales for all US auto dealerships rose 7% in the first quarter, while AutoNation’s sales of new cars rose 10%. Other national auto dealers, like America’s CarMart Inc. (NASDAQ: CRMT) and CarMax Inc. (NYSE: KMX) primarily sell used cars.

AutoNation’s unit sales in the first quarter rose 13% year-over-year, up 16% in domestic models, 6% in imports, and 14% in luxury models. The domestic category includes vehicles built by Ford Motor Co. (NYSE: F), General Motors Co. (NYSE: GM), and Chrysler. The import category includes vehicles from Toyota Motor Corp. (NYSE: TM), Honda Motor Corp. (NYSE: HMC), and Nissan Motor Corp. (OTC: NSANY.PK). Luxury models includes cars from Mercedes, BMW, and Toyota’s Lexus brand.

AutoNation could be positioned better going forward than its used car rivals CarMax and America’s CarMart, both of which attracted more cash-strapped buyers during the recession. But used car inventories are falling, prices are rising, and new car dealers are pricing their trade-ins more agressively.

AutoNation shares are up only 0.22% in pre-market trading this morning, at $33.65 in a 52-week range of $30.46-$41.55.

Paul Ausick

Filed under: Autos, Earnings Tagged: AN, CRMT, F, GM, HMC, KMX, NSANY, TM

24/7 Wall St. Closing Bell (F, GS, RIMM, HON, ORCL, NKE, ATU, KMX, KBH, SHAW, WAG, DFG, CMFB, WWAY, AMPE, VMW, CVLT)

Paul Ausick — Wed, 21 Dec 2011 21:11:35 +0000

Markets opened lower this morning on mixed reaction to the $641 billion borrowing spree from the European Central Bank. Technology stocks were weighed down by poor earnings report and uninspired guidance from one of the industry’s biggest players. The DJIA and the S&P 500 finally reached positive territory about half an hour before closing, but the Nasdaq never touched the line. A very large drawdown on US crude oil inventories helped energy stocks post some gains. One hour before trading closes for the day only a half billion shares have traded hands on the NYSE today. The US dollar is slightly stronger against the euro and the Japanese yen, but down slightly against the British pound. WTI crude oil is up more than 1.5% at $98.79/barrel, and Brent crude is up about 1% at $107.78. Gold was down -0.25% at $1,613.50.

The unofficial closing bells put the DJIA up about 4 points to 12,107.74 (0.03%), the NASDAQ fell nearly 26 points (-0.99%) to 2,577.97, and the S&P 500 rose 0.19% or more than 2 points to 1,243.72.

There were several analyst upgrades and downgrades today, including Ford Motor Co. (NYSE: F) started as ‘buy’ at Sterne Agee. Other ratings actions today include Goldman Sachs Group Inc. (NYSE: GS) started as ‘market perform’ at Wells Fargo; Research in Motion Ltd. (NASDAQ: RIMM) raised from ‘hold’ to ‘buy’ with a $16 target price at ThinkEquity; Honeywell International Inc. (NYSE: HON) reiterated as ‘buy’ with a $70 target price at Argus; and Oracle Corp. (NASDAQ: ORCL) cut from ‘buy’ to ‘hold’ at Canaccord Genuity and maintained as ‘buy’ with a lowered target price of $40 at Credit Suisse.

Here are today’s post-earnings news reactions with prices during the last half-hour of trading: Oracle Corp. is down nearly -11% at $25.98; Nike Inc. (NYSE: NKE) is up nearly 3% at $96.40; Actuant Corp. (NYSE: ATU) is up nearly 9% at $22.61; CarMax Inc. (NYSE: KMX) is down nearly -6% at $29.22; KB Home (NYSE: KBH) is down more than -5% at $7.33; Shaw Group Inc. (NYSE: SHAW) is up nearly 17% at $26.45; and Walgreen Co. (NYSE: WAG) is down about -0.5% at $33.34. For more on the ripple effects of Oracle’s weak earnings, see our coverage here.

Other standouts from today include the following stocks:

Delphi Financial Group Inc. (NYSE: DFG) is up almost 73% at $43.99 after posting a new 52-week high of $44.00. The insurance and financial services company has agreed to be acquired by Japan’s Tokio Marine for $2.66 billion.

Commercefirst Bancorp Inc. (NASDAQ: CMFB) is up nearly 71% at $13.25 after posting a new 52-week high of $13.99 earlier today. The Maryland bank holding company is being acquired by Sandy Spring Bancorp Inc. (NASDAQ: SASR) for $24.5 million in stock and cash, or about $13.50/share.

Westway Group Inc. (NASDAQ: WWAY) is up nearly 23% at $5.50 after posting a new 52-week high of $6.60 earlier today. The bulk liquid storage provider has rejected a $6/share unsolicited takeover offer from an unidentified infrastructure investment fund.

Ampio Pharmaceuticals Inc. (NASDAQ: AMPE) is down more than -17% at $4.38. The drug company announced the sale of 2.2 million shares in private sale to investors at $4.25/share.

VMWare Inc. (NYSE: VMW) is down more than -10% at $76.65. The virtual software company is suffering from Oracle’s weak earnings and guidance.

CommVault Systems Inc. (NASDAQ: CVLT) is down more than -15% at $39.22. The software company is another of Oracle’s victims.

Stay tuned for Thursday. Here are other noteworthy events on the schedule (all times Eastern):

8:30 a.m. – US Commerce Department GDP report
8:30 a.m. – Initial unemployment benefits claims report
8:30 a.m. – Chicago Federal Reserve national activity index
8:30 a.m. – Bureaus of Economic Analysis corporate profits report
9:55 a.m. – Reuters/University of Michigan consumer sentiment index
10:00 a.m. – Federal Housing Finance Agency house price index
10:00 a.m. – Conference Board leading economic indicators
10:30 a.m. – EIA weekly natural gas inventory report
4:30 p.m. – Federal Reserve balance sheet and money supply reports

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AMPE, ATU, CMFB, CVLT, DFG, F, GS, HON, KBH, KMX, NKE, ORCL, RIMM, SHAW, VMW, WAG, WWAY

Value Choices in the Auto Industry (GM, F, HTZ, CAR, ZIP, AN, KMX, CRMT, ORLY, AZO, PBY)

Paul Ausick — Fri, 09 Dec 2011 18:42:25 +0000

The month of December was the leading month for new car sales in the US in 2010. It was the second leading month in 2009, and the pattern could continue this year as pent-up demand from buyers boosts sales. Investors, though, have picked a favorite in the industy, and it’s not the automakers themselves. Both General Motors Co. (NYSE: GM) and Ford Motor Co. (NYSE: F) have seen share prices deteriorate in the past month, as have car rental firms Hertz Global Holdings Inc. (NYSE: HTZ), Avis Budget Group Inc. (NYSE: CAR), and Zipcar Inc. (NASDAQ: ZIP). Dealers like AutoNation, Inc. (NYSE: AN), CarMax Inc. (NYSE: KMX), and America’s Car-Mart, Inc. (NASDAQ: CRMT) have risen the most, and parts stores like O’Reilly Automotive, Inc. (NASDAQ: ORLY), AutoZone, Inc. (NYSE: AZO), and Pep Boys – Manny, Joe, and Jack (NYSE: PBY) are mixed. There ought to be an opportunity here.

GM and Ford have both had median target prices lowered in the past month, and GM stock is trading down more than -7% today compared to its price on November 9th. GM’s median target price is now $33.00, and at today’s price of $21.28, the potential upside is 55%. Ford’s median target price is $15.00, and at today’s price of $11.04, its implied gain is nearly 36%. Battery fires in the Chevy Volt have weighed on GM shares, and Ford is being weighed down by uncertainty about a successor to its current CEO. Ford did reinstate a $0.05/share dividend recently, which gave the shares a bit of a boost.

If US sales rise as predicted in December, the potential upsides to these two stocks could close quickly. Toyota today lowered its earnings forecast for the fiscal year ending in March by more than 50%, citing supply problems due to the floods in Thailand. If there are buyers out there, GM and Ford could benefit from Toyota’s continuing troubles.

The car rental firms are all trading lower today than they were a month ago, and the implied gains for Hertz, Avis, and Zipcar are all above 80%. It might be best to think of those as signs of further deterioration in share prices and targets rather than any sort of implied upside.

The best performers have been the dealers. AutoNation has burst through its target price, and CarMax and America’s Car-Mart both have had their target prices raised in the past month. CarMax has the highest implied upside of the three, at 11%, while America’s Car-Mart’s potential upside is about 3%. Recent strength among these dealers should continue through this month, and this looks the one sector of the auto-related industry that stands to gain the most.

The parts stores have also performed well, with O’Reilly also busting through its median target price of $80 and posting a new 52-week high today at $81.24. AutoZone posted weak earnings earlier this week, which has pushed the share price down. But the company’s implied upside to a raised target price of $360.00 is about 9%. The Pep Boys have an implied upside of about 45%, based on a target price of $16.00 and current share price of $11.00. The company’s recent weak earnings report could indicate that the target price needs to come down, not that the share price is on its way up.

The search for a value play among these stocks would probably point to either GM or Ford, both of which appear to be undervalued and to be poised on the verge of a very good sales month. While the dealers and the parts stores have performed better recently, these stocks are pretty fully valued now. The implied gains of greater than 80% among the rental car companies is not a hopeful sign.

Paul Ausick

Filed under: Analyst Calls, Autos, Value Investing Tagged: AN, AZO, CAR, CRMT, F, GM, HTZ, KMX, ORLY, PBY, ZIP

Target Prices for Auto Sector Stocks (GM, F, HTZ, CAR, ZIP, AN, KMX, CRMT, ORLY, AZO, PBY)

Paul Ausick — Wed, 09 Nov 2011 18:38:14 +0000

About three weeks ago, we looked at target prices and implied share price gains in a number of auto sector stocks. The quarterly earnings season had just begun, and hopes were pretty high for the sector. The stocks we considered were General Motors Co. (NYSE: GM), Ford Motor Co. (NYSE: GM), Hertz Global Holdings Inc. (NYSE: HTZ), Avis Budget Group Inc. (NYSE: CAR), Zipcar Inc. (NASDAQ: ZIP), AutoNation, Inc. (NYSE: AN), CarMax Inc. (NYSE: KMX), America’s Car-Mart, Inc. (NASDAQ: CRMT), O’Reilly Automotive, Inc. (NASDAQ: ORLY), AutoZone, Inc. (NYSE: AZO), and Pep Boys – Manny, Joe, and Jack (NYSE: PBY).

The automakers, General Motors and Ford, have remained essentially flat. GM’s report earlier today beat consensus estimates, but the outlook for the rest of the fourth quarter was lowered. If GM’s forecast comes true, the company could miss fourth quarter EPS estimates by as much as $0.50. The company earns profits only a bit better than Ford’s on sales that are about 10% higher. That means there are still costs to wring out of GM’s manufacturing. And the company’s China sales are not growing at the pace they were a year ago either.

GM’s target price remains at $42.00, which implies an 83% upside potential. Ford’s target price also remained the same, at $16, for an implied gain of 43% above today’s price. Neither target price is realistic in today’s economy.

Among the car rental companies, both Avis and Zipcar have had target prices cuts. Avis now has a target price of $24.50, down from $27 on October 20th. The potential upside has dropped from 133% to 87%.

The current share prices at Hertz and Avis are 12% and 13% higher, respectively, than they were on October 20th. Hertz’s implied gain at today’s stock price is 81%, and Avis’s is 87%. It is impossible to imagine a scenario in which either company makes a gain of that size. Far more likely are further target price cuts.

At Zipcar, the target price has dropped from $31.25 to $30.50, and upside potential has fallen from 80% to a shade above 70%. The company’s forward P/E also fell from an outrageous 273 to a more modest 149. Maybe someday the number will return to reality. Until then, target price cuts could be expected.

Among the auto dealerships, AutoNation got a boost to its median target price, from $32 to $32.50. The stock is trading today at $34.43, about 6% above its target price. But it’s share price is down from $37.06, a drop of about -7%. AutoNation reported a 6% sales gain year-over-year in October, with the biggest gain in its luxury car sales, which were up 27%.

Both CarMax and Car-Mart are trading higher than they were on October 20th, but there has been no change to the target price for either company. Car-Mart’s current price is only 11% below its target price, setting the stage for a boost if the company posts good numbers at its earnings report next week.

The largest change in the auto sector stocks we covered in October came in the parts suppliers group. O’Reilly’s median target price was raised from $68 to $80, and the shares are trading today at $77.74, a scant 3% below the new target. Shares posted a new high today at $77.94, on a day when the markets are down more than -2%.

Neither AutoZone nor Pep Boys was able to match that, as both have put up new 52-week lows since our October report.

All data from Yahoo! Finance and current prices were gathered at about noon today.

Paul Ausick

Filed under: Autos Tagged: AN, AZO, CAR, CRMT, F, GM, HTZ, KMX, ORLY, PBY, ZIP

Huge Gains Expected for Automotive Sector Stocks (GM, F, HTZ, CAR, ZIP, AN, KMX, CRMT, ORLY, AZO, PBY)

Paul Ausick — Thu, 20 Oct 2011 17:37:09 +0000

New car sales in September are estimated to have risen 19% year-over-year, though down -5.5% sequentially. The seasonally adjusted annual rate of new car sales is now set at about 12.9 million new cars. That’s better than original projections, but still well below 2007 annual sales of 16.1 million new cars. We’ll look today at target price estimates for General Motors Co. (NYSE: GM) and Ford Motor Co. (NYSE: F) to see how analysts are looking at the new car market going forward. Recent union settlements have also improved the outlook for these two firms, now that the threat of a strike is gone.Used car sales are estimated to have topped 36 million vehicles in 2010, and new car makers are competing with those sales by increasing incentives. There is also intense competition in the used car market from literally thousands of small dealers. We’ve got some insight today on new car dealer AutoNation, Inc. (NYSE: AN), and used car dealers CarMax Inc. (NYSE: KMX) and America’s Car-Mart, Inc. (NASDAQ: CRMT).

Competition plays a critical role in car rental agencies as well. We’ve gathered some data on Hertz Global Holdings Inc. (NYSE: HTZ) and Budget Group Inc. (NYSE: CAR), who were battling over Dollar Thrifty until earlier this month. We’ve also included Zipcar Inc. (NASDAQ: ZIP) in our review because there is evidence that its short-term rental model is about to get competition from both the big rental companies and the new car makers themselves.

Finally, we’ve looked at parts suppliers O’Reilly Automotive, Inc. (NASDAQ: ORLY), AutoZone, Inc. (NYSE: AZO), and Pep Boys – Manny, Joe, and Jack (NYSE: PBY). As car owners hold onto their cars longer, parts suppliers stand to profit.

All data from Yahoo! Finance and current stock prices were gather just before noon today.

General Motors Co. (NYSE: GM) has a median target price of $42.00 from 17 brokers. Shortly before noon today, shares are trading today at $22.78, for an implied gain of $19.22, or 84%. GM’s forward P/E is 5.24 and the company does not pay a dividend. The stock’s 52-week trading range is $19.05-$39.48, and at today’s price that’s about 20% above its 52-week low and 42% below the 52-week high.

Ford Motor Co. (NYSE: F) has a median target price of $16.00 from 15 brokers. Shares are trading today at $11.61, for an implied gain of $4.39, or 38%. Ford’s forward P/E is 6.59 and the company does not pay a dividend. The stock’s 52-week trading range is $9.05-$18.97, and at today’s price that’s about 28% above its 52-week low and 39% below the 52-week high.

Hertz Global Holdings Inc. (NYSE: HTZ) has a median target price of $21.00 from 5 brokers. Shares are trading today at $10.37, for an implied gain of $10.63 or 133%. Hertz’s forward P/E is 6.43 and the company does not pay a dividend. The stock’s 52-week trading range is $7.80-$17.64, and at today’s price that’s about 33% above its 52-week low and 41% below the 52-week high.

Avis Budget Group Inc. (NYSE: CAR) has a median target price of $27 from 5 brokers. Shares are trading today at $11.61, for an implied gain of $15.39, or 133%. Avis’s forward P/E is 8.95 and the company does not pay a dividend. The stock’s 52-week trading range is $8.45-$19.49, and at today’s price that’s about 37% above its 52-week low and 40% below the 52-week high.

Zipcar, Inc. (NASDAQ: ZIP) has a median target price of $31.25 from 4 brokers. Shares are trading today at $17.38, for an implied gain of $13.87, or 80%. Hertz’s forward P/E is an astronomical 273 as the company has yet to show a profit since its IPO in April. The company does not pay a dividend. The stock’s 52-week trading range is $16.50-$31.50, and at today’s price that’s about 5% above its 52-week low and 45% below the 52-week high.

AutoNation, Inc. (NYSE: AN) has a median target price of $32 from 8 brokers. Shares are trading today at $37.06, about 5% above its consensus target price. AutoNation’s forward P/E is 17.55 and the company does not pay a dividend. The stock’s 52-week trading range is $22.28-$41.55, and at today’s price that’s about 66% above its 52-week low and 10% below the 52-week high.

CarMax Inc. (NYSE: KMX) has a median target price of $33 from 13 brokers. Shares are trading today at $27.76, for an implied gain of $5.24, or 19%. CarMax’s forward P/E is 14.06 and the company does not pay a dividend. The stock’s 52-week trading range is $22.77-$37.02, and at today’s price that’s about 22% above its 52-week low and 25% below the 52-week high.

America’s Car-Mart, Inc. (NASDAQ: CRMT) has a median target price of $37 from 5 brokers. Shares are trading today at $29.89, for an implied gain of $7.11, or 24%. Car-Mart’s forward P/E is 8.86 and the company does not pay a dividend. The stock’s 52-week trading range is $22.77-$37.50, and at today’s price that’s about 31% above its 52-week low and 20% below the 52-week high.

O’Reilly Automotive, Inc. (NASDAQ: ORLY) has a median target price of $68 from 19 brokers. Shares are trading today at $70.16, about 2% above its consensus target price. O’Reilly’s forward P/E is 17.12 and the company does not pay a dividend. The stock’s 52-week trading range is $52.97-$72.00, and at today’s price that’s about 32% above its 52-week low and 3% below the 52-week high.

AutoZone, Inc. (NYSE: AZO) has a median target price of $350 from 17 brokers. Shares are trading today at $326.17, for an implied gain of $23.83, or 7.3%. AutoZone’s forward P/E is 12.59 and the company does not pay a dividend. The stock’s 52-week trading range is $229.84-$337.23, and at today’s price that’s about 42% above its 52-week low and 3% below the 52-week high.

Pep Boys – Manny, Joe, and Jack (NYSE: PBY) has a median target price of $16 from 5 brokers. Shares are trading today at $10.95, for an implied gain of $5.05, or 46%. The Pep Boys’s forward P/E is 9.43 and the company pays a dividend yield of 1.1%. The stock’s 52-week trading range is $7.86-$15.96, and at today’s price that’s about 39% above its 52-week low and 31% below the 52-week high.

As you can see, there are some of the auto-related stocks that are close to or are now fully valued. Still, there remains massive upside if the consensus analyst targets can be met. Some upside targets are still so high that you have to wonder if they have been updated to reflect the new reality or if they are even really attainable.

Paul Ausick

Filed under: auto, Labor & Unions Tagged: AN, AZO, CAR, CRMT, F, GM, HTZ, KMX, ORLY, PBY, ZIP

Top Earnings Previews For The Week Ahead (LEN, ADBE, CCL, CAG, JEF, ORCL, BBBY, GIS, RHT, KMX, DFS, FDX, NKE, UA, RAD)

Administrator — Fri, 16 Sep 2011 18:07:52 +0000

The coming week is going to feel like a mini earnings season. We have many sector leaders reporting earnings and the fallout (or benefits) could be widespread. On deck are key earnings from the following: Lennar Corporation (NYSE: LEN); Adobe Systems Inc. (NASDAQ: ADBE); Carnival Corporation (NYSE: CCL); ConAgra Foods Inc. (NYSE: CAG); Jefferies Group Inc. (NYSE: JEF); Oracle Corporation (NASDAQ: ORCL); Bed Bath & Beyond Inc. (NASDAQ: BBBY); General Mills Inc. (NYSE: GIS); Red Hat Inc. (NYSE: RHT); CarMax Inc. (NYSE: KMX); Discover Financial Services (NYSE: DFS); FedEx Corporation (NYSE: FDX); Nike Inc. (NYSE: NKE); and Rite Aid Corporation (NYSE: RAD).

We have broken these out by day and included consensus earnings and revenue estimates from Thomson Reuters. We have also added in a price and recent trading activity and even added in the consensus analyst price targets. Many of these also have some added color for traders to consider about the earnings reports.

Monday

Lennar Corporation (NYSE: LEN) has estimates of $0.10 EPS and $810.2 million in revenues; next quarter estimates are $0.19 EPS and $908.35 million in revenues. Shares are trading around $13.90, the 52-week trading range is $12.39 to $21.54. Wait a minute… EARNINGS rather than losses? Go figure.

Tuesday

Adobe Systems Inc. (NASDAQ: ADBE) has estimates of $0.54 EPS and $1.03 billion in revenues; next quarter estimates are $0.59 EPS and $1.07 billion in revenues. Shares are trading around $25.50, the 52-week trading range is $22.67 to $35.99. Analysts still have a consensus target above $34.00, which seems a bit optimistic in the new normal where Apple’s mobility service is still crimping Flash.

Carnival Corporation (NYSE: CCL) will show the cruise industry who is boss, maybe. The estimates are $1.63 EPS and $4.91 billion in revenues; next quarter estimates are $0.36 EPS and $3.89 billion in revenues. Shares are trading around $33.50, the 52-week trading range is $28.96 to $48.14. Keep in mind that this report is the King-Maker quarter that dictates the earnings for the full year due to the summer travel months. With an estimate of $1.63 EPS for the quarter, the full year is expected to be $2.46 EPS. Analysts have a consensus target of $almost $44.75.

ConAgra Foods Inc. (NYSE: CAG) has estimates of $0.31 EPS and $2.96 billion in revenues; next quarter estimates are $0.46 EPS and $3.3 billion in revenues. Shares are trading around $24.00, the 52-week trading range is $21.02 to $26.60, and the consensus analyst target is $28.13.

Jefferies Group Inc. (NYSE: JEF) has estimates of $0.26 EPS and $665.6 million in revenues; next quarter estimates are $0.36 EPS and $746.1 million in revenues. Shares are trading around $14.65, the 52-week trading range is $13.85 to $27.12, and the consensus target is $22.22. Jefferies has not been immune from the market’s pounding of banks and brokerage firms, but this is one broker and i-banker expected to grow.

Filed under: Calendar, Earnings Tagged: ADBE, BBBY, CAG, CCL, DFS, FDX, GIS, JEF, KMX, LEN, NKE, ORCL, RAD, RHT, UA

Week’s Biggest Winners, JC Penny And Nine Others

247wallst — Sat, 18 Jun 2011 11:48:14 +0000

Shares in JC Penney (NYSE: JCP) rose 14.5% for the week as the faltering retailer appointed Ron Johnson, who has run Apple’s (NASDAQ: AAPL) retail stores as its next CEO. The market should be troubled by the role that long-time chief Myron Ullman will play as executive chairman. The description of his duties is vague enough to beg the question of who is in charge.

Shares of Lorillard (NYSE: LO) moved higher by 10% because it appears that regulations of menthol cigarettes will not tighten. Shares of VF Corp (NYSE: VFC) also rose 10% as it bought retailer Timberland for $2 billion.

Douglas A. McIntyre

S&P 500 WEEK TOP 10 (10 JUN – 16 JUN)	Ticker	Weekly Price Change (%)	Close Price 16Jun11	Close Price 10Jun11	Market Cap ($Mil)
J. C. Penney Company Inc.	JCP	14.5	34.27	29.92	7405.7
Lorillard Inc	LO	10.0	109.85	99.85	15786.0
V.F. Corp	VFC	10.0	100.96	91.80	11044.8
CarMax Inc	KMX	7.2	28.76	26.84	6495.5
Tyson Foods Inc.	TSN	5.6	18.08	17.12	5595.6
Best Buy Co. Inc.	BBY	5.6	30.01	28.43	11665.4
Tenet Healthcare Corp	THC	5.4	6.23	5.91	3049.9
Fastenal Co	FAST	4.8	32.46	30.97	9571.2
HCP Inc	HCP	4.7	36.69	35.03	14897.1
Cabot Oil & Gas Corp	COG	4.5	60.43	57.83	6312.9
Source: Capital IQ

Filed under: Research Tagged: BBY, FAST, GOG, HCP, JCP, KMX, LO, THC, TSN, VFC

Key Earnings Previews for the Week Ahead (RENN, ADBE, BKS, CCL, CAAS, CMC, GRB, JBL, JEF, WAG, BBBY, KMX, FDX, PAYX, RHT, CAG, HRB, LEN, MU, ORCL, RAD)

Administrator — Fri, 17 Jun 2011 18:18:18 +0000

Earnings season is supposed to be over. Guess again. This coming week is going to feel like the earnings floodgates are open and the companies reporting have market-moving and sector-moving abilities. Monday brings Renren Inc, (NYSE: RENN). Tuesday we get to see earnings from Adobe Systems Inc. (NASDAQ: ADBE), Barnes and Noble Inc. (NYSE: BKS), Carnival Corporation (NYSE: CCL), China Automotive Systems Inc. (NASDAQ: CAAS), Commercial Metals Co. (NYSE: CMC), Gerber Scientific Inc. (NYSE: GRB), Jabil Circuit Inc. (NYSE: JBL), Jefferies Group Inc. (NYSE: JEF), and Walgreen Co. (NYSE: WAG). On Wednesday, we get earnings from the likes of Bed Bath & Beyond Inc. (NASDAQ: BBBY), Carmax Inc. (NYSE: KMX), Fedex Corporation (NYSE: FDX), Paychex Inc. (NASDAQ: PAYX), and Red Hat Inc. (NYSE: RHT). We also have key reports on Thursday coming from the likes of ConAgra Foods Inc. (NYSE: CAG), H & R Block Inc. (NYSE: HRB), Lennar Corporation (NYSE: LEN), Micron Technology Inc. (NASDAQ: MU), Oracle Corporation (NASDAQ: ORCL), and Rite Aid Corporation (NYSE: RAD).

We have given a detailed preview on each, shown effective price data, and added in color if applicable. It is amazing to see this many companies with earnings due.

Renren Inc, (NYSE: RENN) has been a pig of an IPO and we will get to see if this is just another China bash or if there is anything real under the hood on Monday. Thomson Reuters has no estimates yet. Shares are trading around $6.92 and the 52-week trading range is $6.55 to $24.00. Renren was touted as “The Facebook of China” but its stock and the scandal from right before the earnings turned it into “The Face$%^& of China.”

Adobe Systems Inc. (NASDAQ: ADBE) reports Tuesday and Thomson Reuters has estimates of $0.51 EPS and $994.79 million in revenues; next quarter estimates are $0.54 EPS and $1.02 million in revenues. Shares are trading around $30.67 and the 52-week trading range is $25.45 to $35.99.

Barnes and Noble Inc. (NYSE: BKS) is interesting considering that it is at a premium to its implied buyout price. Thomson Reuters has estimates of -$0.91 EPS and $1.39 billion in revenues; next quarter estimates are -$0.88 EPS and $1.45 billion in revenues. Shares are trading around $20.00 and the 52-week trading range is $8.45 to $20.46.

Filed under: Calendar, Corporate Governance, Earnings, Technology Companies Tagged: ADBE, BBBY, BKS, CAAS, CAG, CCL, CMC, FDX, GRB, HRB, JBL, JEF, KMX, LEN, MU, ORCL, PAYX, RAD, RENN, RHT, WAG

Top Analyst Upgrades & Downgrades (AFL, T, BP, KMX, CL, DANG, GE, JBLU, NVDA, POT, PG, TRV, SVU, SOL)

Administrator — Fri, 28 Jan 2011 13:33:11 +0000

These are some of this Friday’s top analyst calls with upgrades, downgrades, and initiations seen from Wall Street research firms.

AFLAC Inc. (NYSE: AFL) Started as Neutral at Goldman Sachs.
AT&T, Inc. (NYSE: T) Cut to Neutral at UBS; Reiterated Buy at Argus.
BP plc (NYSE: BP) Started as Hold at Citigroup.
CarMax Inc. (NYSE: KMX) Raised to Outperform at Oppenheimer.
Colgate-Palmolive Co. (NYSE: CL) Cut to Sell at S&P Equity Research.
E-Commerce China Dangdang Inc. (NYSE: DANG) Started as Neutral with $30.40 target at Credit Suisse.
General Electric Co. (NYSE: GE) Raised to Buy with $26 target at Argus.
JetBlue Airways Corporation (NASDAQ: JBLU) Cut to Hold at Soleil.
NVIDIA Corporation (NASDAQ: NVDA) Raised to Neutral at Susquehanna.
Potash Corp. of Saskatchewan, Inc. (NYSE: POT) has seen target price objectives raised at Canaccord, UBS, Scotia, BMO and TD.
Procter & Gamble (NYSE: PG) Cut to Hold at S&P Equity Research (late yesterday call); Reiterated Buy at Argus and Reiterated Outperform at Credit Suisse this morning.
The Travelers Companies, Inc. (NYSE: TRV) Raised to Buy at Argus.
Zacks Ratings: SUPERVALU Inc. (NYSE: SVU) maintained Underperform as the Bear of the Day; ReneSola Ltd. (NYSE: SOL) Raised to Outperform with $12.00 target as the Bull of the Day.

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JON C. OGG

Filed under: Analyst Calls Tagged: AFL, BP, CL, DANG, GE, JBLU, KMX, NVDA, PG, POT, SOL, SVU, T, TRV

Top Analyst Upgrades & Downgrades (ANF, BA, BWA, BKI, KMX, CHK, COP, FDO, GT, NFLX, QCOM, CODE, SYMC)

Administrator — Thu, 27 Jan 2011 13:16:50 +0000

These are some of this Thursday’s top analyst calls with upgrades, downgrades, and initiations seen from Wall Street research firms.

Abercrombie & Fitch Co. (NYSE: ANF) Cut to Market Perform at FBR.
Boeing Co. (NYSE: BA) Maintained Outperform but cut target to $88 at Credit Suisse.
BorgWarner Inc. (NYSE: BWA) Cut to Sell at Goldman Sachs.
Buckeye Technologies Inc (NYSE: BKI) Raised to Outperform and $32 target at Credit Suisse.
CarMax Inc. (NYSE: KMX) Raised to Outperform at RBC.
Chesapeake Energy Corporation (NYSE: CHK) Cut to Hold at Stifel Nicolaus.
ConocoPhillips (NYSE: COP) Reiterated Outperform but Raised target to $80 at Credit Suisse.
Family Dollar Stores Inc. (NYSE: FDO) Raised to Outperform at RBC.
Goodyear Tire & Rubber Co. (NYSE: GT) Cut to Neutral at Goldman Sachs.
Netflix, Inc. (NASDAQ: NFLX) Raised to Buy with $275.00 target at BofA/ML; Raised to Market Perform at Morgan Keegan.
QUALCOMM Incorporated (NASDAQ: QCOM) Raised to Outperform at Morgan Keegan.
Spansion Inc. (NASDAQ: CODE) Reiterated Buy and $28 target at Gleacher & Co.
Symantec Corporation (NASDAQ: SYMC) Raised to Buy at Jefferies.

JON C. OGG

Filed under: Analyst Calls Tagged: ANF, BA, BKI, BWA, CHK, CODE, COP, FDO, GT, KMX, NFLX, QCOM, SYMC